Review of the GCF Project-specific Assessment Approach Pilot Framework

AAE has been hired to conduct an interim evaluation aimed at informing the GCF Board’s consideration (B.31/06) on the future role of the Project-Specific Assessment Approach (PSAA). The evaluation assesses the relevance, effectiveness, and efficiency of the PSAA; examines how well it has been operationalized, including governance and systems; evaluates its contribution to expanding access to GCF resources while maintaining fiduciary, environmental, social, and gender standards; and identifies key lessons, challenges, and forward-looking options for its continuation, redesign, institutionalization, or discontinuation.

The PSAA is a pilot accreditation modality of the Green Climate Fund that enables entities—particularly first-time applicants and those from developing countries—to access funding for a single project through a streamlined, fit-for-purpose assessment. This process evaluates fiduciary, environmental, social, and gender standards in parallel with the funding proposal review.

As of December 2025, six PSAA projects have been approved, totaling USD 1.26 billion (including USD 333 million from the GCF), with two already under implementation. The modality demonstrates strong and diverse demand, with 119 applications received and 30 proposals under review, and is currently undergoing a mandated review to determine its future within the GCF accreditation framework.